KALA BIO, Inc. (NASDAQ:KALA) Short Interest Down 21.8% in January

by · The Markets Daily

KALA BIO, Inc. (NASDAQ:KALA – Get Free Report) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 430,672 shares, a decrease of 21.8% from the December 31st total of 551,064 shares. Currently, 4.5% of the company’s stock are short sold. Based on an average trading volume of 3,101,638 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 3,101,638 shares, the days-to-cover ratio is currently 0.1 days. Currently, 4.5% of the company’s stock are short sold.

KALA BIO Trading Down 10.9%

Shares of KALA BIO stock traded down $0.06 on Tuesday, hitting $0.47. 1,250,363 shares of the company traded hands, compared to its average volume of 1,486,147. The firm’s 50-day simple moving average is $0.68 and its 200 day simple moving average is $4.55. KALA BIO has a 12-month low of $0.47 and a 12-month high of $20.60. The company has a market cap of $4.62 million, a P/E ratio of -0.08 and a beta of -2.43.

KALA BIO (NASDAQ:KALA – Get Free Report) last released its earnings results on Wednesday, November 19th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.06). Analysts predict that KALA BIO will post -10.84 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.38.

Read Our Latest Report on KALA

Institutional Investors Weigh In On KALA BIO

Hedge funds have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC grew its stake in shares of KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after acquiring an additional 103,650 shares during the period. Geode Capital Management LLC boosted its stake in shares of KALA BIO by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after acquiring an additional 1,534 shares during the last quarter. Woodline Partners LP bought a new position in KALA BIO in the 1st quarter worth $1,483,000. Finally, XTX Topco Ltd purchased a new position in shares of KALA BIO during the 2nd quarter valued at about $62,000. 24.61% of the stock is owned by institutional investors.

KALA BIO Company Profile

(Get Free Report)

KALA Bio (NASDAQ: KALA) is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for ocular diseases. The company’s proprietary surface charge–based nanoparticle delivery platform is designed to enhance penetration and retention of therapeutic agents on the ocular surface. This technology is the basis for its lead product, Eysuvis (KPI-121 1.0%), an FDA-approved topical corticosteroid for short-term relief of ocular itching associated with allergic conjunctivitis.

Beyond its approved therapy, KALA Bio is advancing a pipeline of investigational drug candidates targeting inflammatory and degenerative eye conditions.

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